Breedon Group
BREE · Main Market · Construction and Materials · mcap £1,049m · 305.0p
Financials · balance sheet 30 Jun 26 · last twelve months · today’s market value
Source: results 29 Jul 26 ↗
- Market cap
- £1,059m
- Owner’s net cash
- −£690.5m
- Net cash / market cap
- -65%
- EV ex leases
- £1,735m
- Revenue
- £1,756m
- Operating profit
- £127.7m
- Free cash flow after leases
- £104.8m
- EV / EBIT
- 13.6×
- FCF yield
- 9.9%
- Price / tangible book
- 0.86×
- ROCE
- 6%
- Net income (owners)
- £81.8m
Share price × shares in issue (from the company’s voting-rights notices)
Net cash ex leases − Pension deficit − Deferred consideration − Paid out since−£690.5m − £0.0m − £0.0m − £0.0m = −£690.5m
Owner’s net cash ÷ Market cap−£690.5m ÷ £1,059m
Market cap + Borrowings − Cash + Pension deficit + Deferred consideration + Non-controlling interests − Associates & JVs + Paid out since£1,059m + £770.6m − £80.1m + £0.0m + £0.0m + £0.5m − £14.3m + £0.0m = £1,735m
Revenue, last twelve monthsLTM to 2026-06-30
Operating profit, last twelve monthsLTM to 2026-06-30
Cash from operations − Capex (PP&E) − Capex (intangibles) − Lease principal paid − Lease interest paid£236.5m − £118.6m − £0.0m − £9.3m − £3.8m
EV ex leases ÷ Operating profit (LTM)£1,735m ÷ £127.7m
Free cash flow after leases ÷ Market cap£104.8m ÷ £1,059m
Market cap ÷ Tangible book£1,059m ÷ £1,236m
Operating profit (LTM) ÷ (Total assets − Current liabilities)£127.7m ÷ (£2,561m − £421.6m) = £127.7m ÷ £2,139m
Net income (owners), last twelve monthsLTM to 2026-06-30
Market value
- Market cap
- £1,059m
Share price × shares in issue (from the company’s voting-rights notices)
Cash and debt · balance sheet 2026-06-30
- Cash
- £80.1m
- Borrowings
- £770.6m
- Net cash / (debt) ex leases
- −£690.5m
- Lease liabilities
- £0.0m
- Owner’s net cash
- −£690.5m
- Net cash / market cap
- -65%
- Cash − total liabilities
- −£1,245m
Balance sheet 2026-06-30
Borrowings, current + Borrowings, non-current£48.4m + £722.2m
Cash − Borrowings£80.1m − £770.6m = −£690.5m
Lease liabilities, current + non-current (left out of net cash and EV ex leases)£0.0m + £0.0m
Net cash ex leases − Pension deficit − Deferred consideration − Paid out since−£690.5m − £0.0m − £0.0m − £0.0m = −£690.5m
Owner’s net cash ÷ Market cap−£690.5m ÷ £1,059m
Cash − Total liabilities (the strictest view: cash covers everything owed)£80.1m − £1,325m = −£1,245m
Last twelve months · LTM to 2026-06-30
- Revenue
- £1,756m
- Operating profit
- £127.7m
- EBITDA (pre-IFRS 16)
- –
- Net income (owners)
- £81.8m
- Cash from operations
- £236.5m
- Free cash flow after leases
- £104.8m
- Cash conversion
- 289%
Revenue, last twelve monthsLTM to 2026-06-30
Operating profit, last twelve monthsLTM to 2026-06-30
Operating profit + Depreciation (owned assets) + Amortisation
Net income (owners), last twelve monthsLTM to 2026-06-30
Cash from operations, last twelve monthsLTM to 2026-06-30
Cash from operations − Capex (PP&E) − Capex (intangibles) − Lease principal paid − Lease interest paid£236.5m − £118.6m − £0.0m − £9.3m − £3.8m
Cash from operations ÷ Net income (owners)£236.5m ÷ £81.8m
Enterprise value
- EV ex leases
- £1,735m
- EV incl. leases
- £1,735m
Market cap + Borrowings − Cash + Pension deficit + Deferred consideration + Non-controlling interests − Associates & JVs + Paid out since£1,059m + £770.6m − £80.1m + £0.0m + £0.0m + £0.5m − £14.3m + £0.0m = £1,735m
EV ex leases + Lease liabilities£1,735m + £0.0m
Valuation at today’s market cap
- EV / EBIT
- 13.6×
- EV / EBITDA
- –
- FCF yield
- 9.9%
- Price / book
- 0.86×
- Tangible book
- £1,236m
- Price / tangible book
- 0.86×
- NCAV (net current asset value)
- −£734.1m
- Price / NCAV
- –
- Net-net working capital
- −£894.7m
EV ex leases ÷ Operating profit (LTM)£1,735m ÷ £127.7m
EV ex leases ÷ EBITDA (pre-IFRS 16)£1,735m ÷ –
Free cash flow after leases ÷ Market cap£104.8m ÷ £1,059m
Market cap ÷ Total equity£1,059m ÷ £1,236m
Total equity − Goodwill − Other intangibles£1,236m − £0.0m − £0.0m
Market cap ÷ Tangible book£1,059m ÷ £1,236m
Current assets − Total liabilities£591.0m − £1,325m
Market cap ÷ NCAV£1,059m ÷ −£734.1m
Cash + 75% × Trade receivables + 50% × Inventories − Total liabilities£80.1m + 0.75 × £379.4m + 0.5 × £131.5m − £1,325m
Returns and quality
- ROCE
- 6%
- ROE
- 7%
- Current ratio
- 1.40×
- Net debt / EBITDA
- –
- Accruals ratio
- -6.0%
Operating profit (LTM) ÷ (Total assets − Current liabilities)£127.7m ÷ (£2,561m − £421.6m) = £127.7m ÷ £2,139m
Net income (owners, LTM) ÷ Total equity£81.8m ÷ £1,236m
Current assets ÷ Current liabilities£591.0m ÷ £421.6m
(Borrowings − Cash) ÷ EBITDA (pre-IFRS 16)£690.5m ÷ –
(Net income − Cash from operations) ÷ Total assets – high: profit not backed by cash(£81.8m − £236.5m) ÷ £2,561m
H1 26 vs H1 25 · results 29 Jul 26 ↗
- Revenue
- £858m +5%
- Operating profit
- £41.6m −15%
- Net income
- £25.5m −7%
- Cash from operations
- £21.4m +98%
Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.
The statement exactly as printed in one results announcement – its own columns (the period and its comparatives), lines and headings, in the company's currency and units. Choose the report above; to compare several years, use Key figures.
Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.
Latest report: H1 26 (six months to 30 Jun 26), published 29 Jul 26 · read the results ↗
| Six months ended 30 June 2026 Underlying* £m | Six months ended 30 June 2026 Non-underlying £m | Six months ended 30 June 2026 Total £m | Six months ended 30 June 2025 Underlying* £m | Six months ended 30 June 2025 Non- underlying £m | Six months ended 30 June 2025 Total £m | Year ended 31 December 2025 Underlying* £m | Year ended 31 December 2025 Non- underlying £m | Year ended 31 December 2025 Total £m | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 857.9 | - | 857.9 | 815.9 | - | 815.9 | 1,713.8 | - | 1,713.8 |
| Operating expenses | (803.1) | (14.6) | (817.7) | (755.3) | (14.0) | (769.3) | (1,548.2) | (34.9) | (1,583.1) |
| Group operating profit | 54.8 | (14.6) | 40.2 | 60.6 | (14.0) | 46.6 | 165.6 | (34.9) | 130.7 |
| Share of profit of associate and joint ventures | 1.4 | - | 1.4 | 2.1 | - | 2.1 | 4.1 | - | 4.1 |
| Profit from operations | 56.2 | (14.6) | 41.6 | 62.7 | (14.0) | 48.7 | 169.7 | (34.9) | 134.8 |
| Financial income | 0.3 | - | 0.3 | 0.2 | - | 0.2 | 0.2 | - | 0.2 |
| Financial expense | (15.2) | - | (15.2) | (14.0) | - | (14.0) | (29.7) | - | (29.7) |
| Profit before taxation | 41.3 | (14.6) | 26.7 | 48.9 | (14.0) | 34.9 | 140.2 | (34.9) | 105.3 |
| Taxation | (8.8) | 7.6 | (1.2) | (10.2) | 2.8 | (7.4) | (29.9) | 8.5 | (21.4) |
| Profit for the period | 32.5 | (7.0) | 25.5 | 38.7 | (11.2) | 27.5 | 110.3 | (26.4) | 83.9 |
| Attributable to | |||||||||
| Breedon Group shareholders | 32.5 | (7.0) | 25.5 | 38.7 | (11.2) | 27.5 | 110.2 | (26.4) | 83.8 |
| Non-controlling interests | - | - | - | - | - | - | 0.1 | - | 0.1 |
| Profit for the period | 32.5 | (7.0) | 25.5 | 38.7 | (11.2) | 27.5 | 110.3 | (26.4) | 83.9 |
| Earnings per share | |||||||||
| Basic | – | – | 7.4p | – | – | 8.0p | – | – | 24.2p |
| Diluted | – | – | 7.4p | – | – | 8.0p | – | – | 24.2p |
| 30 June 2026 £m | 30 June 2025 Restated* £m | 31 December 2025 £m | |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipment | 1,033.7 | 974.9 | 996.1 |
| Right-of-use assets | 74.6 | 46.0 | 45.3 |
| Intangible assets | 43.8 | 800.0 | 792.1 |
| Investment in associate and joint ventures | 14.3 | 16.4 | 14.7 |
| Trade and other receivables | 3.4 | - | 3.4 |
| Total non-current assets | 1,969.8 | 1,837.3 | 1,851.6 |
| Current assets | |||
| Inventories | 131.5 | 143.5 | 127.1 |
| Trade and other receivables | 379.4 | 353.3 | 263.4 |
| Cash and cash equivalents | 80.1 | 64.5 | 115.5 |
| Total current assets | 591.0 | 561.3 | 506.0 |
| Total assets | 2,560.8 | 2,398.6 | 2,357.6 |
| Current liabilities | |||
| Interest-bearing loans and borrowings | (48.4) | (51.8) | (49.1) |
| Trade and other payables | (335.2) | (311.6) | (285.9) |
| Current tax payable | (0.9) | (4.6) | (2.1) |
| Provisions | (37.1) | (28.8) | (38.0) |
| Total current liabilities | (421.6) | (396.8) | (375.1) |
| Non-current liabilities | |||
| Interest-bearing loans and borrowings | (722.2) | (660.8) | (593.7) |
| Provisions | (90.6) | (92.9) | (88.7) |
| Deferred tax liabilities | (90.7) | (98.7) | (102.9) |
| Total non-current liabilities | (903.5) | (852.4) | (785.3) |
| Total liabilities | (1,325.1) | (1,249.2) | (1,160.4) |
| Net assets | 1,235.7 | 1,149.4 | 1,197.2 |
| Equity attributable to Breedon Group shareholders | |||
| Share capital | 3.6 | 3.5 | 3.5 |
| Share premium | 5.6 | 5.0 | 5.4 |
| Hedging reserve | (1.2) | (3.5) | (5.1) |
| Translation reserve | (20.3) | (32.6) | (26.0) |
| Merger reserve | 100.7 | 100.7 | 100.7 |
| Retained earnings | 1,146.8 | 1,076.0 | 1,118.2 |
| Total equity attributable to Breedon Group shareholders | 1,235.2 | 1,149.1 | 1,196.7 |
| Non-controlling interests | 0.5 | 0.3 | 0.5 |
| Total equity | 1,235.7 | 1,149.4 | 1,197.2 |
| Six months ended 30 June 2026 £m | Six months ended 30 June 2025 £m | Year ended 31 December 2025 £m | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit for the period | 25.5 | 27.5 | 83.9 |
| Adjustments for | |||
| Depreciation and mineral depletion | 60.7 | 54.4 | 113.2 |
| Amortisation | 10.9 | 9.0 | 25.3 |
| Provisions charged to the income statement | 1.1 | - | 4.0 |
| Financial income | (0.3) | (0.2) | (0.2) |
| Financial expense | 15.2 | 14.0 | 29.7 |
| Share of profit of associate and joint ventures | (1.4) | (2.1) | (4.1) |
| Net gain on sale of property, plant and equipment | (0.9) | (1.9) | (4.6) |
| Share-based payments | 3.1 | 2.1 | 4.6 |
| Taxation | 1.2 | 7.4 | 21.4 |
| Operating cash flow before changes in working capital and provisions | 115.1 | 110.2 | 273.2 |
| (Increase)/decrease in inventories | (0.6) | (3.5) | 13.5 |
| (Increase)/decrease in trade and other receivables | (101.9) | (88.9) | 6.0 |
| Increase/(decrease) in trade and other payables | 40.0 | 13.3 | (19.7) |
| Decrease in provisions | (2.3) | (1.4) | (3.6) |
| Cash generated from operating activities | 50.3 | 29.7 | 269.4 |
| Interest paid | (10.5) | (10.6) | (21.9) |
| Interest element of lease payments | (2.4) | (1.4) | (2.8) |
| Interest received | 0.3 | 0.2 | 0.2 |
| Income taxes paid | (16.3) | (7.1) | (19.0) |
| Net cash from operating activities | 21.4 | 10.8 | 225.9 |
| Cash flows used in investing activities | |||
| Acquisition of businesses | (106.9) | (159.1) | (159.9) |
| Dividends from associate and joint ventures | 2.0 | 1.1 | 5.2 |
| Purchase of property, plant and equipment | (46.2) | (47.7) | (120.1) |
| Proceeds from sale of property, plant and equipment | 3.0 | 3.3 | 9.6 |
| Net cash used in investing activities | (148.1) | (202.4) | (265.2) |
| Cash flows from financing activities | |||
| Dividends paid | - | (35.1) | (51.5) |
| Proceeds from the issue of shares (net of costs) | 0.2 | 0.8 | 1.2 |
| Proceeds from interest-bearing loans | 127.0 | 323.6 | 166.0 |
| Repayment of interest-bearing loans | (29.7) | (100.9) | (22.1) |
| Acquisition of non-controlling interest | (0.8) | - | - |
| Debt arrangement fees | - | - | (0.9) |
| Repayment of lease obligations | (3.4) | (4.5) | (10.4) |
| Net cash from financing activities | 93.3 | 183.9 | 82.3 |
| Net (decrease)/increase in cash and cash equivalents | (33.4) | (7.7) | 43.0 |
| Cash and cash equivalents at beginning of period | 71.6 | 28.9 | 28.9 |
| Foreign exchange differences | (0.2) | (0.4) | (0.3) |
| Cash and cash equivalents at end of period | 38.0 | 20.8 | 71.6 |
| 2025 Underlying £m | 2025 Non-underlying 1 £m | 2025 Total £m | 2024 Underlying £m | 2024 Non- underlying 1 £m | 2024 Total £m | |
|---|---|---|---|---|---|---|
| Revenue | 1,713.8 | - | 1,713.8 | 1,576.3 | - | 1,576.3 |
| Operating expenses | (1,548.2) | (34.9) | (1,583.1) | (1,406.1) | (24.1) | (1,430.2) |
| Group operating profit | 165.6 | (34.9) | 130.7 | 170.2 | (24.1) | 146.1 |
| Share of profit of associate and joint ventures | 4.1 | - | 4.1 | 3.5 | - | 3.5 |
| Profit from operations | 169.7 | (34.9) | 134.8 | 173.7 | (24.1) | 149.6 |
| Financial income | 0.2 | - | 0.2 | 1.2 | - | 1.2 |
| Financial expense | (29.7) | - | (29.7) | (24.1) | (1.3) | (25.4) |
| Profit before taxation | 140.2 | (34.9) | 105.3 | 150.8 | (25.4) | 125.4 |
| Tax at effective tax rate | (29.9) | 8.5 | (21.4) | (32.7) | 3.6 | (29.1) |
| Taxation | (29.9) | 8.5 | (21.4) | (32.7) | 3.6 | (29.1) |
| Profit for the year | 110.3 | (26.4) | 83.9 | 118.1 | (21.8) | 96.3 |
| Attributable to | ||||||
| Breedon Group shareholders | 110.2 | (26.4) | 83.8 | 118.0 | (21.8) | 96.2 |
| Non-controlling interests | 0.1 | - | 0.1 | 0.1 | - | 0.1 |
| Profit for the year | 110.3 | (26.4) | 83.9 | 118.1 | (21.8) | 96.3 |
| Earnings per share | ||||||
| Basic | – | – | 24.2p | – | – | 28.1p |
| Diluted | – | – | 24.2p | – | – | 28.0p |
| 2025 £m | 2024 Restated 1 £m | |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipment | 996.1 | 939.1 |
| Right-of-use assets | 45.3 | 46.5 |
| Intangible assets | 792.1 | 686.3 |
| Investment in associate and joint ventures | 14.7 | 15.0 |
| Trade and other receivables | 3.4 | - |
| Total non-current assets | 1,851.6 | 1,686.9 |
| Current assets | ||
| Inventories | 127.1 | 135.7 |
| Trade and other receivables | 263.4 | 261.0 |
| Current tax receivable | - | 1.5 |
| Cash and cash equivalents | 115.5 | 70.0 |
| Total current assets | 506.0 | 468.2 |
| Total assets | 2,357.6 | 2,155.1 |
| Current liabilities | ||
| Interest-bearing loans and borrowings | (49.1) | (49.8) |
| Trade and other payables | (285.9) | (283.6) |
| Current tax payable | (2.1) | - |
| Provisions | (38.0) | (30.0) |
| Total current liabilities | (375.1) | (363.4) |
| Non-current liabilities | ||
| Interest-bearing loans and borrowings | (593.7) | (425.5) |
| Provisions | (88.7) | (91.4) |
| Deferred tax liabilities | (102.9) | (104.2) |
| Total non-current liabilities | (785.3) | (621.1) |
| Total liabilities | (1,160.4) | (984.5) |
| Net assets | 1,197.2 | 1,170.6 |
| Equity attributable to Breedon Group shareholders | ||
| Share capital | 3.5 | 3.4 |
| Share premium | 5.4 | 2.0 |
| Hedging reserve | (5.1) | 0.3 |
| Translation reserve | (26.0) | (9.7) |
| Merger reserve | 100.7 | 92.7 |
| Retained earnings | 1,118.2 | 1,081.5 |
| Total equity attributable to Breedon Group shareholders | 1,196.7 | 1,170.2 |
| Non-controlling interests | 0.5 | 0.4 |
| Total equity | 1,197.2 | 1,170.6 |
| 2025 £m | 2024 £m | |
|---|---|---|
| Cash flows from operating activities | ||
| Profit for the year | 83.9 | 96.3 |
| Adjustments for | ||
| Depreciation and mineral depletion | 113.2 | 99.7 |
| Amortisation | 25.3 | 12.5 |
| Provisions charged to the income statement | 4.0 | - |
| Financial income | (0.2) | (1.2) |
| Financial expense | 29.7 | 25.4 |
| Share of profit of associate and joint ventures | (4.1) | (3.5) |
| Gain on sale of property, plant and equipment | (4.6) | (1.7) |
| Share-based payments | 4.6 | 3.3 |
| Taxation | 21.4 | 29.1 |
| Operating cash flows before changes in working capital and provisions | 273.2 | 259.9 |
| Decrease/(increase) in inventories | 13.5 | (8.4) |
| Decrease in trade and other receivables | 6.0 | 10.5 |
| Decrease in trade and other payables | (19.7) | (15.6) |
| Decrease in provisions | (3.6) | (3.1) |
| Cash generated from operating activities | 269.4 | 243.3 |
| Interest paid | (21.9) | (15.9) |
| Interest element of lease payments | (2.8) | (2.9) |
| Interest received | 0.2 | 1.2 |
| Income taxes paid | (19.0) | (24.0) |
| Net cash from operating activities | 225.9 | 201.7 |
| Cash flows used in investing activities | ||
| Acquisition of businesses | (159.9) | (173.6) |
| Dividends from associate and joint ventures | 5.2 | 3.0 |
| Purchase of property, plant and equipment | (120.1) | (131.3) |
| Proceeds from sale of property, plant and equipment | 9.6 | 5.7 |
| Net cash used in investing activities | (265.2) | (296.2) |
| Cash flows used in financing activities | ||
| Dividends paid | (51.5) | (48.3) |
| Proceeds from the issue of shares (net of costs) | 1.2 | 1.3 |
| Proceeds from interest-bearing loans | 166.0 | 357.4 |
| Repayment of interest-bearing loans | (22.1) | (304.0) |
| Debt arrangement fees | (0.9) | - |
| Repayment of lease obligations | (10.4) | (9.4) |
| Net cash used in financing activities | 82.3 | (3.0) |
| Net increase/(decrease) in cash and cash equivalents | 43.0 | (97.5) |
| Cash and cash equivalents at 1 January | 28.9 | 126.9 |
| Foreign exchange differences | (0.3) | (0.5) |
| Cash and cash equivalents at 31 December | 71.6 | 28.9 |
| LTM Jun 26 | FY 25 | FY 24 | |
|---|---|---|---|
| Revenue to operating profit | |||
| Revenue | 1,755.8 | 1,713.8 | 1,576.3 |
| Adjusted EBITDA | 279.3 | 278.8 | 269.9 |
| EBITDA | – | 269.2 | 258.3 |
| Adjusted operating profit | 163.2 | 169.7 | 173.7 |
| Exceptional / adjusting items | (35.5) | (34.9) | (24.1) |
| Operating profit | 127.7 | 134.8 | 149.6 |
| Amortisation | 27.2 | 25.3 | 12.5 |
| Share-based payments | 5.6 | 4.6 | 3.3 |
| Operating profit to net income | |||
| Finance costs | (30.9) | (29.7) | (25.4) |
| Profit before tax | 97.1 | 105.3 | 125.4 |
| Tax | (15.2) | (21.4) | (29.1) |
| Net income (owners) | 81.8 | 83.8 | 96.2 |
| Per share | |||
| EPS basic | 23.6p | 24.2p | 28.1p |
| EPS diluted | 23.6p | 24.2p | 28.0p |
| Dividend per share | 15.3p | 15.0p | 14.5p |
| H1 26 | vs H1 25 | H2 25 | H1 25 | |
|---|---|---|---|---|
| Revenue to operating profit | ||||
| Revenue | 857.9 | +5% | 897.9 | 815.9 |
| Adjusted EBITDA | 115.5 | 0% | 163.8 | 115.0 |
| Adjusted operating profit | 56.2 | −10% | 107.0 | 62.7 |
| Exceptional / adjusting items | (14.6) | +4% | (20.9) | (14.0) |
| Operating profit | 41.6 | −15% | 86.1 | 48.7 |
| Amortisation | 10.9 | +21% | 16.3 | 9.0 |
| Share-based payments | 3.1 | +48% | 2.5 | 2.1 |
| Operating profit to net income | ||||
| Finance costs | (15.2) | +9% | (15.7) | (14.0) |
| Profit before tax | 26.7 | −23% | 70.4 | 34.9 |
| Tax | (1.2) | −84% | (14.0) | (7.4) |
| Net income (owners) | 25.5 | −7% | 56.3 | 27.5 |
| Per share | ||||
| EPS basic | 7.4p | – | 16.2p | 8.0p |
| EPS diluted | 7.4p | – | 16.2p | 8.0p |
| Dividend per share | 5.0p | – | 10.2p | 4.8p |
| LTM Jun 26 | FY 25 | FY 24 | |
|---|---|---|---|
| Operating activities | |||
| Cash from operations | 236.5 | 225.9 | 201.7 |
| Interest paid | (21.8) | (21.9) | (15.9) |
| Tax paid | (28.2) | (19.0) | (24.0) |
| Investing activities | |||
| Capex (PP&E) | (118.6) | (120.1) | (131.3) |
| Financing activities | |||
| Lease principal paid | (9.3) | (10.4) | (9.4) |
| Lease interest paid | (3.8) | (2.8) | (2.9) |
| Dividends paid | (16.4) | (51.5) | (48.3) |
| Shares issued | 0.6 | 1.2 | 1.3 |
| H1 26 | vs H1 25 | H2 25 | H1 25 | |
|---|---|---|---|---|
| Operating activities | ||||
| Cash from operations | 21.4 | +98% | 215.1 | 10.8 |
| Interest paid | (10.5) | −1% | (11.3) | (10.6) |
| Tax paid | (16.3) | +130% | (11.9) | (7.1) |
| Investing activities | ||||
| Capex (PP&E) | (46.2) | −3% | (72.4) | (47.7) |
| Financing activities | ||||
| Lease principal paid | (3.4) | −24% | (5.9) | (4.5) |
| Lease interest paid | (2.4) | +71% | (1.4) | (1.4) |
| Dividends paid | 0.0 | n/m | (16.4) | (35.1) |
| Shares issued | 0.2 | −75% | 0.4 | 0.8 |
| 30 Jun 26 | 31 Dec 25 | 31 Dec 24 | |
|---|---|---|---|
| Non-current assets | |||
| Property, plant & equipment | 1,033.7 | 996.1 | 939.1 |
| Associates & JVs | 14.3 | 14.7 | 15.0 |
| Non-current assets | 1,969.8 | 1,851.6 | 1,686.9 |
| Current assets | |||
| Inventories | 131.5 | 127.1 | 135.7 |
| Trade receivables | 379.4 | 263.4 | 261.0 |
| Cash | 80.1 | 115.5 | 70.0 |
| Current assets | 591.0 | 506.0 | 468.2 |
| Total assets | 2,560.8 | 2,357.6 | 2,155.1 |
| Current liabilities | |||
| Trade payables | 335.2 | 285.9 | 283.6 |
| Borrowings, current | 48.4 | 49.1 | 49.8 |
| Current liabilities | 421.6 | 375.1 | 363.4 |
| Non-current liabilities | |||
| Borrowings, non-current | 722.2 | 593.7 | 425.5 |
| Non-current liabilities | 903.5 | 785.3 | 621.1 |
| Total liabilities | 1,325.1 | 1,160.4 | 984.5 |
| Equity | |||
| Non-controlling interests | 0.5 | 0.5 | 0.4 |
| Total equity | 1,235.7 | 1,197.2 | 1,170.6 |
| Net cash and other figures | |||
| Net cash / (debt) ex leases | – | (481.1) | (356.6) |
| Net cash / (debt) incl. leases | – | (527.3) | (405.3) |
| 30 Jun 26 | 31 Dec 25 | 30 Jun 25 | 31 Dec 24 | |
|---|---|---|---|---|
| Non-current assets | ||||
| Property, plant & equipment | 1,033.7 | 996.1 | 974.9 | 939.1 |
| Associates & JVs | 14.3 | 14.7 | 16.4 | 15.0 |
| Non-current assets | 1,969.8 | 1,851.6 | 1,837.3 | 1,686.9 |
| Current assets | ||||
| Inventories | 131.5 | 127.1 | 143.5 | 135.7 |
| Trade receivables | 379.4 | 263.4 | 353.3 | 261.0 |
| Cash | 80.1 | 115.5 | 64.5 | 70.0 |
| Current assets | 591.0 | 506.0 | 561.3 | 468.2 |
| Total assets | 2,560.8 | 2,357.6 | 2,398.6 | 2,155.1 |
| Current liabilities | ||||
| Trade payables | 335.2 | 285.9 | 311.6 | 283.6 |
| Borrowings, current | 48.4 | 49.1 | 51.8 | 49.8 |
| Current liabilities | 421.6 | 375.1 | 396.8 | 363.4 |
| Non-current liabilities | ||||
| Borrowings, non-current | 722.2 | 593.7 | 660.8 | 425.5 |
| Non-current liabilities | 903.5 | 785.3 | 852.4 | 621.1 |
| Total liabilities | 1,325.1 | 1,160.4 | 1,249.2 | 984.5 |
| Equity | ||||
| Non-controlling interests | 0.5 | 0.5 | 0.3 | 0.4 |
| Total equity | 1,235.7 | 1,197.2 | 1,149.4 | 1,170.6 |
| Net cash and other figures | ||||
| Net cash / (debt) ex leases | – | (481.1) | – | (356.6) |
| Net cash / (debt) incl. leases | – | (527.3) | – | (405.3) |
Read automatically from each results announcement. Check the source before relying on a figure.
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Company filings. Not investment advice.